Guide to Coping tips of Lost items

Welcome to the guide for Lost item Process Flow

Please note that any item lost will be kept for 7 days at each institution (or immediately), then the unclaimed list item will be heading to
the Lost and Found Center of KNPA.

Lost112 will make great effort find your lost item as fast as possible.

Lost promissory notes and Checks

Coping Tips for lost promissory notes and Checks

  • Notify it to banks, Attached:Certificate of lost or stolen, Effect:Stop payment
  • Report to the police station, Attached:Certificate of lost or stolen, Effect:Arresting criminal
  • Registering a public summons on courts, Jurisdiction:jurisdiction court of payments, Attached:Fraud, certificate of stolen, and certificate of unpaid
  • A public summons, More than 5 million won:One newspaper announcement, Less than 5 million won:One newspaper announcement, More than 3 months
  • fixed date of a public summons, Attendance:Application statement of judgment of nullification, Non-attendance:the new specified date received within two months
  • Judgment of nullification, On reporting:Judgment of nullification stop or suspend, No reporting:Sentencing decision of Judgment of nullification

public summons procedure

  1. As soon as lost(stolen) promissory notes and checks are found, contact your bank to notify for it and should ask to suspend payment of them. And then, visit the bank
    to submit a written accident report and to receive the "certificate of accounts payable". After this, a public summons must be accompanied to submit on the court.
    The report is written under joint signature between publishers and endorser who lost them.
  2. Make sure to notify it to the bank and report to the police station simultaneously to arrest suspects and to prevent them from being transferred to others. Take two
    copies of "Lost or Stolen Certificate" or "stolen certificate" from the police and submit a copy separately each for submitting an accident report to the bank and applying
    for a public summons to a court.
  3. Disclosure must apply for the public summons by attaching "Lost or Stolen Certificate" or "stolen certificate" to the jurisdiction court (often district court located at the
    branch of your bank( After three months of the public summons, if there is no report on a right from third parties, judgment of nullification may make the promissory notes
    and checks invalid to oppose fight against the acquirer and charge check issuer and direct endorser of promissory notes and checks.

Proposed exchange of lost (stolen) promissory note and checks

  1. After reporting lost (stolen) promissory note and checks and if there are the notification of proposed exchange, the publisher(not endorser) will deposit them on
    miscellaneous savings at the their main creditor bank(payable bank) and must treated them as bankrupt due to the "accident report submitted"
  2. If the promissory notes and checks are not deposited on miscellaneous savings at the their main creditor bank, they will be bankrupt due to ""lack of deposit". If they
    are not deposited on time of the work hour, they will be received measure of transaction suspension, registered as " credit delinquent(red) and punished according
    to the Illegal Check Control Act.
  3. The legitimate rights and responsibility for payment may be handled as paid liability litigation if the proposed payment presenter of the promissory note and check may
    claim the payment due to the litigation, etc. However, if the proposed payment presenter (bearer) is the third party in good faith who found the lost(stolen) promissory
    note without notice, he may have priority status as the rightful owners of them.

Bearer of the lost(stolen) check

  1. Disclosure of a public summons
    • They shall have a right to disclose the right or claim until the fixed date of a public summons(up to three months after the disclosure). However, the right may not lost
      when it is disclosed before the judgment of nullification even after the fixed date of a public summons. In addition, if the publisher is reported the judgment of
      nullification with inform the court that the bearer have disclosed the right to the publisher, the judgment is regarded as a fraudulent and illegal act.
  2. In return of lost (stolen) promissory note and checks after the proposed exchange
    • An amicable treatment with publishers, and endorsers who lost them is preferable after the reason of them are revealed. However, if it is not available, you may have your right by requesting for provision through the litigation claim.